FAQs – Holvi Business Credit Card

What is the Holvi Business Credit Card?
The Holvi Business Credit Card is here to give freelancers and small business owners the freedom to manage their cash flow. You can pay for business expenses now and split the payments over time with flexible Buy Now, Pay Later (BNPL) options. No stress. Just control.

How does the Holvi credit card work?
When you apply for the Holvi Business Credit Card, we open a separate credit account for you with its own IBAN and credit line. All purchases made with your card are charged to this account, so it won’t affect your regular business account. It’s all about making managing expenses easier.

You’ll have four flexible repayment options:

• Pay it off in full next month (no interest)
• Pay in 3 monthly instalments
• Pay in 6 monthly instalments
• Pay in 12 monthly instalments (available in Germany and Finland)

Your personalised credit line can go up to €5,000, with a fixed interest rate of 16% if you choose to pay in instalments. But if you pay it off by the end of the month, you won’t pay any interest. Simple.

How to apply for the Holvi Business Credit Card
How do I apply for a Holvi credit card?
To apply, you need to be on a Holvi Pro or Holvi Pro+ plan. If you’re a new customer, log in to Holvi.com, go to Account settings > Payment cards > Order new, and you’re good to go.

Who can apply for the Holvi Business Credit Card?
The credit card is available to customers on the Holvi Pro plan. If you don’t have Holvi Pro yet, simply sign up, and then you can apply for the credit card. Your application will go through an individual assessment based on your credit score and other factors.

About the Holvi Credit Card
What’s the difference between the Holvi Business Credit Card and the Holvi Business Debit Mastercard?
With the Holvi Debit Mastercard, funds are withdrawn directly from your business account. The Holvi Business Credit Card, however, gives you a credit line to use up to €5,000—so you don’t need to rely on your current balance to make purchases.

Is the Holvi Business Credit Card virtual or physical?
Both! As soon as you sign up, you'll get a virtual credit card to use right away for online purchases. Want a physical card? No problem—just request one, and it’ll arrive in about 14 days. Both cards share the same credit line, so you can track your expenses and make payments easily.

Is the Holvi Business Credit Card contactless?
Absolutely! We’re Finnish, so of course, everything is contactless. Tap to pay anywhere Mastercard is accepted—globally.

Credit Checks, Credit Lines, and Credit Limits
How much is my credit limit?
Your credit limit is personalised and can range from €1,000 to €5,000. Once you pay off part of your balance, your available credit is topped up, and you can keep using it.

How are credit lines and interest rates determined?
Your credit line and interest rate (16%) are determined after an individual assessment when you apply. We base it on your creditworthiness and business details.

What’s a credit check, and does it cost anything?
We’ll perform a free credit check to understand your creditworthiness, but don’t worry—it won’t impact your credit score. It’s just part of the process to make sure we’re offering the right plan for you.

What else affects your credit decision?
We also consider:

• Your history with Holvi (being a responsible customer can improve your chances)
• Your expense-to-income ratio, which shows how manageable your repayments are (check out our blog post to learn more about this calculation)

Repayment Options / Instalment Plans
How do instalments work?
You can spread your repayments over 1, 3, 6, or 12 months—whichever works best for you. If you pay off your balance in full by the end of the month, there’s no interest. If you choose instalments, a fixed interest rate of 16% will apply, but it’s all clear and predictable, with no hidden fees.

How do I decide how many instalments I need?
It’s all about what works for you. If you prefer flexible, predictable payments, you can choose 3, 6, or 12 months. If you want to avoid interest altogether, pay in full by the end of the month.

What happens if I miss a payment?
If your payment is overdue, you’ll be charged a €5 reminder fee, and your card will be locked until the minimum payment is received. If you still don’t pay after 45 days, the credit agreement may be terminated, and legal action could be taken to recover the debt.

Credit Card Balance and Billing
How often is my credit card balance updated?
Your balance is updated in real time, so you can always see how much credit you have left after each transaction.

Where can I find my credit card bill?
Your bill will be available in the Holvi app and sent to your email. The payment is due on the last day of the month, but if needed, you can adjust your payment date.

What is the minimum monthly payment?
The minimum monthly payment is based on a percentage of your balance. Make sure to pay at least this amount by the due date to keep things in good standing.

How is interest calculated?
Interest is calculated on your outstanding balance at a rate of 16%. You only pay interest on the remaining balance—no interest on interest!

Fees
Here's a quick breakdown of fees related to the Holvi Business Credit Card:

You can find all fees listed in detail in your contract and our fee schedule.

Paying Off Your Holvi Credit Balance
Payments are made via bank transfer to your credit account. You can either pay the full balance or follow your chosen instalment plan. We’ll send you a push notification when your payment is due.

What happens if I miss a payment?
If your payment is overdue, a €5 reminder fee will be charged, and your card will be locked until the minimum payment is received. After 45 days, we may terminate the agreement and take legal action to recover any outstanding debt.